Types of Taxation

Who is the taxpayer ?

• individuals or entities

• Business Person

• a person who pays taxes

• A person who earns money

A property Tax is also know as :

• Land Tax

• Building Tax

• House Tax

Who Imposes/collects the property tax?

• State government

• Central government

• The Local bank

• The local government/municipal cooperation

Identify the type of tax :

1.) If you own an indigo plantation and plan on exporting it from India to Sri Lanka , what kind of tax will be imposed ?

2.) You are a retailer and sold goods to your daily customer , what kind of tax will be levied on that ?

3.) The toothpaste company imposes a tax on its product of domestic use , what is the tax called ?

4.) This is a complex system of imposing taxes and has some exceptions , identify the name .

5.) VAT tax excludes taxes on a particular product , what are these kind of products called ? give one example .